Expanding social and affordable housing in Catalonia
-
Approval date
27 September 2024
-
Borrower
Sostre Cívic
- Country
-
Loan size
€ 31 000 000
-
Line of action
Promoting Inclusive and Resilient Living Environments
-
Status
In progress
This programme loan will support Sostre Civic SCCL, a social non-profit housing cooperative developer, to build or refurbish over 300 social housing units, thus increasing the supply of sorely lacking social and affordable housing in the region of Catalonia. The total cost of the programme, amounting to €62 million, will be partially financed with EU Funds. The programme, guaranteed by InvestEU, represents the largest cooperative housing project in Catalonia and in Spain.
Final beneficiaries: the inhabitants of Catalonia unable to afford ownership or rental market prices. Around 25% of the dwellings will be reserved for socially and economically vulnerable people such as those with reduced mobility, intellectual disabilities or women victims of gender-based violence. The programme will also benefit persons with mental health conditions and senior citizens. Over 60% of persons living in Sostre Civic’s housing units are women. Women represent 63% of those selected to participate in a housing project or on the waiting list to be selected for one.
This operation benefits from support from the European Union under the InvestEU Fund, as part of CEB SISW Debt Financial Product supporting the "Social and Affordable Housing" InvestEU policy area.
Borrower's adress: c. Casp, 43, low., 08010 Barcelona, Spain